ProPellet
ProPellet Oy is a Finnish bioenergy company that delivers turnkey "Heat as a Service" using wood pellets to municipalities, industrial firms, healthcare facilities, and religious communities nationwide, owning the full value chain from pellet production to heating plant operation.
- Company typePrivate
- Founded2005
- HeadquartersYlivieska, Finland
- Headcount11–50
- GTM typeB2B
- OfferingServices
What ProPellet does
ProPellet Oy is a Finnish bioenergy company headquartered in Ylivieska that delivers heating energy to municipalities, industrial firms, healthcare facilities, and religious communities through a turnkey "Heat as a Service" (Lämpöpalvelu) model. Founded in 2005 by the Peltokorpi brothers and formally operational from 2007, the company owns and operates three pellet production facilities — Ylivieska, Alajärvi, and Tervola — with combined annual capacity above 70,000 tonnes. These factories supply fuel for the company's own heating plants and for wholesale distribution through the Hankkija retail network in 15kg bags, 500kg big bags, and bulk deliveries. ProPellet installs and operates biomass heating plants ranging from 50 kW to 5 MW, available as fixed installations, portable heat containers, and integrated systems, and currently delivers approximately 130 GWh of thermal energy annually to more than 150 customer sites across Finland.
The company's core technology is bioenergy combustion, supplied by equipment partners such as Boweco (3 MW heating plants), Veljekset Ala-Talkkari Oy (Veto boilers/burners), and Heat Service (Jalasjärvi), combined with automated remote monitoring and 24/7 control. ProPellet monetizes primarily through a managed-service subscription: customers pay a monthly base fee plus an energy consumption charge, while ProPellet retains ownership of the equipment, delivers fuel, performs maintenance, and monitors operations. A secondary revenue stream is pellet wholesale, and a third is district heating — the company now operates district heating networks in Kuivaniemi and Lohtaja. The customer base of 100+ heat delivery contracts includes 70 state-owned properties and enterprise accounts such as Sauna360, Hoivatilat, PihlaPro Eskola, Baltic Yachts, Oy Kati Ab, and Kiljava Hospital.
In 2025, ProPellet received private equity backing from CapMan Infra's infrastructure fund and acquired Geo Geo Oy, a ground source heat pump specialist with an 8-person team and 70+ completed projects in Southern Finland, extending the energy-as-a-service platform beyond biomass. ProPellet is led by Group CEO Teemu Helistekangas (effective December 2025, joining from Adven), with founding brothers Timo Peltokorpi (Deputy CEO) and Tapani Peltokorpi (Operational Director) continuing in executive roles, alongside a recently strengthened commercial leadership team including Sales Director Mika Hartikainen (ex-Geonova), Concept Director Markku Sjöman, and Sales Manager Timo Jokila (ex-Gasum, Auris).
ProPellet firmographics
Firmographics- Name
- ProPellet
- Legal name
- ProPellet Oy
- Website
- https://propellet.fi
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- ProPellet Oy is a Finnish bioenergy company that delivers turnkey "Heat as a Service" using wood pellets to municipalities, industrial firms, healthcare facilities, and religious communities nationwide, owning the full value chain from pellet production to heating plant operation.
- Ownership category
- akta.pro rank
ProPellet industry classification
Industry- Product category
- Bioenergy Heat-as-a-Service
- NAICS
- Steam and Air-Conditioning Supply (221330)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Biomass Heating Systems (Commercial/Institutional Boilers) (EUAAAGAE)
- akta.pro secondary industries
- District Energy Biomass Plants (Heating Networks) (EUAAAGAB), Biomass Plant Operations, Maintenance & Performance Services (O&M) (EUAAAGAI), Heat Pumps (Air/Water/Ground Source) (IMAHAKAF), Chillers, Boilers & Central Plant Operations (BPABACAG)
Keywords
Where ProPellet is headquartered
LocationHeadquarters
- HQ city
- Ylivieska
- HQ country
- Finland
- HQ region
- Europe
Offices3 records
Markets served
ProPellet business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Supply Chain, Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Heat as a Service (Lämpöpalvelu): Monthly base fee plus energy consumption-based fee. ProPellet invests in heating equipment, operates and maintains plants, delivers fuel, and monitors remotely. Customer pays for heat energy without capital investment.
- Pellet Sales: Production and sale of wood pellets (70,000+ tonnes annually) to customers. Products available in 15kg small bags, 500kg big bags, and bulk deliveries.
- District Heating: Supply of heating energy to district heating networks in Kuivaniemi, Lohtaja, and other locations.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Heat as a Service - custom quote |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels2 records
ProPellet product offering
Product offeringCore offering
ProPellet delivers turnkey bioenergy heating services to organizations across Finland, owning and operating the heating plants (50 kW–5 MW) on customer sites and selling the heat energy as a subscription service with no customer capital investment. The company manufactures the wood pellet fuel used in these plants, operates three district heating networks, and complements the heat-as-a-service portfolio with ground source heat pump installations through its Geo Geo Oy subsidiary.
Product overview
ProPellet is a Finnish renewable energy company offering bioenergy heating solutions as a service. The company operates under a unified 'Heat as a Service' model where customers purchase heat energy without capital investment in equipment. The product portfolio centers on three core offerings: Lämpöpalvelu (Heat Service) as the primary service wrapper, Lämpölaitokset (Heating Plants) available in three configurations (fixed plants 1-5MW, portable containers 50kW-1MW, and integrated systems 50kW-1MW), and Pelletti (Wood Pellet Fuel) as the primary energy source. The company recently expanded into ground source heat pumps through the acquisition of Geo Geo Oy, enabling hybrid energy solutions. ProPellet also operates district heating networks and pellet production factories in Ylivieska and Tervola, producing approximately 70,000 tonnes of pellets annually.
Differentiator
Problem solved
Functional benefit
Products and services
- Lämpöpalvelu (Heat Service / Heat-as-a-Service) Subscription-based heat delivery offering in which ProPellet owns, installs, operates and maintains bioenergy heating equipment on the customer's site and bills the customer only for delivered heat energy, eliminating the customer's need for capital investment. Targeted at Finnish municipalities, healthcare facilities, industrial sites, and religious organizations with heating needs from 50 kW to 5 MW.
- Lämpölaitokset (Heating Plants, incl. fixed plants, integrated plants and heat containers) Bioenergy heating plants delivered in three configurations: fixed plants for larger heating needs (1–5 MW), integrated heating equipment for existing premises (50 kW–1 MW), and portable heat containers (200 kW–1 MW) supplied as complete automated packages with remote control and monitoring. Designed for properties without district heating access, using multi-fuel combustion (pellets, wood chips) with over 90% efficiency.
- Pelletti (Wood Pellet Fuel) Wood-based renewable pellet fuel manufactured at ProPellet's Ylivieska and Tervola factories (combined capacity over 70,000 tonnes/year) from sawdust and planing shavings sourced from forest industry by-products. Available in 15 kg small bags, 500 kg big bags, and bulk deliveries, distributed via Hankkija retail network and direct bulk orders.
- Kaukolämpö (District Heating) Production and delivery of heating energy into Finnish district heating networks (including Kuivaniemi and Lohtaja) using ProPellet's pellet-based heating plants, replacing prior oil-based district heating.
- Geo Geo Ground Source Heat Pump Service Turnkey ground source heat pump installations delivered as an energy-as-a-service by Geo Geo Oy, now part of ProPellet Group. Geo Geo has completed over 70 ground source heat projects in Southern Finland with an 8-person specialist team, enabling hybrid renewable heat solutions alongside ProPellet's pellet heating plants.
Quantifiable outcome
- 30-50% reduction in heating costs compared to oil heating
- +3 more outcomes
Companies that use ProPellet
Customer profileNamed customers8 records
Segments4 records
Ideal customer profiles4 records
ProPellet technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
ProPellet partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Geo Geo OycoreProPellet invested in Geo Geo, a ground source heat pump company established in 2021 with an 8-person team. Geo Geo has completed 70+ ground source heat projects in Southern Finland. Part of ProPellet Group, focusing on heat pump solutions as energy service (EaaS).
Scale indicators8 records
Recent moves11 records
Expansion highlights6 records
ProPellet competitors and assessment
Company assessmentDirect peers
- Adven Oy: Nordic energy service company providing heat, steam, and cooling as outsourced service to industrial, municipal, and commercial customers; the most direct head-to-head competitor to ProPellet in Finnish Heat-as-a-Service.
- Nordic Bioenergy Group: Swedish-based biomass heat-as-a-service operator owning and operating wood-chip and pellet district heating plants; highly comparable business model, fuel mix, and customer profile to ProPellet's biomass heating operations.
- Oomi Energia Oy: Finnish energy service company selling electricity, heating, and energy solutions to households and businesses; competes with ProPellet for the same municipal and small-commercial heating customers in Finland.
Regional players
- Kuopion Energia Oy: Regional Finnish energy company producing and distributing heat and electricity; comparable as a regional district heating operator and competitor for municipal heating customers.
- Savon Voima Oyj: Regional Finnish energy company distributing heat, electricity, and broadband; operates district heating networks in Eastern Finland that overlap with ProPellet's target customer segments.
Broad incumbents
- Helen Oy: Helsinki-based municipal energy company supplying heat, electricity, and cooling; one of the largest players in Finnish district heating and a benchmark incumbent for ProPellet's municipal customers.
- Vantaan Energia Oy: Finnish municipal energy company producing and distributing heat and electricity; competes for district heating concessions and large industrial heating contracts that ProPellet also targets.
- Tampereen Sähkölaitos Oy: Tampere municipal energy company producing and supplying heat, electricity, and cooling; relevant incumbent competitor in the Pirkanmaa region for both Heat-as-a-Service and district heating tenders.
- St1 Oy: Finnish energy company with renewable fuels, heat production, and energy service offerings; competes for industrial and commercial customers seeking renewable heating solutions.
Others
- Veljekset Ala-Talkkari Oy: Finnish manufacturer of Veto biomass boilers and burners used in ProPellet heating containers; an upstream equipment supplier rather than a competitor, relevant for understanding ProPellet's hardware cost base.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
ProPellet social profiles
Digital presenceProPellet financial estimates
Financial estimateRevenue estimate
Valuation estimate
ProPellet leadership team
Management profileNumber of profiles
Profiles7 records
ProPellet subsidiaries and ownership
Company hierarchySubsidiaries2 records
ProPellet funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ProPellet M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ProPellet
What does ProPellet do?
ProPellet delivers turnkey bioenergy heating services to organizations across Finland, owning and operating the heating plants (50 kW–5 MW) on customer sites and selling the heat energy as a subscription service with no customer capital investment. The company manufactures the wood pellet fuel used in these plants, operates three district heating networks, and complements the heat-as-a-service portfolio with ground source heat pump installations through its Geo Geo Oy subsidiary.
Is ProPellet a public or private company?
ProPellet is a private company. It is classified as private equity controlled and is currently operating.
When was ProPellet founded?
ProPellet was founded in 2005. It employs 11 to 50 people.
Where is ProPellet based?
ProPellet is headquartered in Ylivieska, Finland, in the Europe region.
How does ProPellet make money?
Three revenue lines are on record. Heat as a Service (Lämpöpalvelu) is the primary driver. The others are pellet Sales and district Heating.
Who are ProPellet's main competitors?
Direct peers on record are Adven Oy, Nordic Bioenergy Group and Oomi Energia Oy. Regional players are Kuopion Energia Oy and Savon Voima Oyj. Broad incumbents are Helen Oy, Vantaan Energia Oy, Tampereen Sähkölaitos Oy and St1 Oy. Veljekset Ala-Talkkari Oy is listed as an others.
Does ProPellet have an API?
No public API is recorded for ProPellet.
What industry is ProPellet in?
ProPellet's product category is Bioenergy Heat-as-a-Service. Its primary akta.pro industry code is EUAAAGAE, Biomass Heating Systems (Commercial/Institutional Boilers), with a secondary code of EUAAAGAB, District Energy Biomass Plants (Heating Networks). Its NAICS code is 221330 and its SIC code is 4991.